Socar's stock has continued to rise for a second consecutive day. After hitting the upper limit the previous trading day, the shares showed a double-digit increase on the 14th, attracting significant market attention.
According to the Korea Exchange, as of 10:25 a.m. on this day, Socar's shares were trading at 19,600 won, up 14.35% from the previous day. The stock had closed at 17,140 won, marking a 29.95% increase the day before.
The surge in stock price is attributed to news of a strategic investment from Krafton. Krafton announced it would invest 65 billion won in Socar's autonomous driving business. Socar is reportedly planning to establish a new autonomous driving subsidiary, 'Apex Mobility,' with an investment of 150 billion won.
Market analysts are noting that this investment could enable Socar to expand beyond a simple vehicle-sharing platform into a mobility company focused on autonomous driving and physical AI. Krafton is also seen as broadening its business scope from game development to include AI and mobility data.
Socar has reported a profit for seven consecutive quarters. In its first-quarter report released on this day, the company disclosed a consolidated operating profit of 1.38834 billion won, a 1.8% decrease compared to the same period last year.
* This article has been translated by AI.
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